CIBC FIRSTCARIBBEAN OFFICIALS MEET WITH MINISTER OF INDUSTRY

Senior officials of the CIBC FirstCaribbean International Bank recently met with Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss and among the items discussed were ways the bank and the ministry could forge synergies to further grow the small business sector.

The meeting which took place at the regional bank's corporate headquarters at Warrens St. Michael saw Mark St. Hill, CIBC FirstCaribbean's Managing Director, Retail, Business and International Banking and Donna Wellington, Managing Director and Barbados Country Head, highlighting to the minister and his team the range of products and services which the bank offers specifically to help businesses access capital and grow their enterprises.

The meeting which took place at the regional bank’s corporate headquarters at Warrens St. Michael saw Mark St. Hill, CIBC FirstCaribbean’s Managing Director, Retail, Business and International Banking and Donna Wellington, Managing Director and Barbados Country Head, highlighting to the minister and his team the range of products and services which the bank offers specifically to help businesses access capital and grow their enterprises.

St. Hill spoke of the bank’s Business Planning Guide for Entrepreneurs which offers comprehensive advice for persons starting a new business or running an established one. He stressed that CIBC FirstCaribbean was aiming to integrate “a more advisory approach” when it comes to supporting the small business segment across the region.

He also spoke of the Bank’s suite of Business Banking Products such as the improved variety of Transactional Accounts, Cash Management Services and recent introductions to the Bank’s line of Credit Product; Business Banking Line of Credit, Merchant Services Overdraft, and the bizline credit card.

In addition, Director of Business Banking, Bill Wright, highlighted a recent initiative where the Bank is hosting a series of Client Events across 10 countries partnering with BDO, an international accounting firm, as the key facilitator. The series of Business Banking Roadshows kicked off in Barbados September 17 offering advice on the importance of strong record keeping to an enterprise with respect to providing the owner with invaluable decision making inputs and insights, satisfying statutory requirements, and assisting in gaining access to the necessary capital to operate and grow the business.

Minister Inniss noted that access to financing still remained one of the key components to establishing and driving new businesses forward. He said his ministry was keen on working with the commercial banking sector to find ways of addressing the needs of small and medium sized entrepreneurs.

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